Arcadia Biosciences (NASDAQ:RKDA) Upgraded to Hold at ValuEngine

Arcadia Biosciences (NASDAQ:RKDA) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

A number of other equities analysts have also recently issued reports on the stock. National Securities raised their price objective on shares of Arcadia Biosciences from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. HC Wainwright reaffirmed a “buy” rating on shares of Arcadia Biosciences in a research note on Monday, August 12th.

RKDA stock traded down $0.24 during midday trading on Tuesday, reaching $4.83. The company’s stock had a trading volume of 397,643 shares, compared to its average volume of 1,362,237. Arcadia Biosciences has a 52 week low of $1.82 and a 52 week high of $10.40. The stock has a market cap of $37.01 million, a PE ratio of -0.90 and a beta of -3.00. The company has a quick ratio of 5.09, a current ratio of 5.29 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $5.41 and its 200-day simple moving average is $4.96.

Arcadia Biosciences (NASDAQ:RKDA) last announced its quarterly earnings data on Wednesday, August 14th. The basic materials company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). Arcadia Biosciences had a negative net margin of 388.94% and a negative return on equity of 157.32%. The business had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.20 million. As a group, equities analysts forecast that Arcadia Biosciences will post -3.56 earnings per share for the current fiscal year.

In other news, CFO Matthew T. Plavan purchased 8,000 shares of Arcadia Biosciences stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $8.73 per share, with a total value of $69,840.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Comcowich purchased 5,000 shares of Arcadia Biosciences stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of $5.88 per share, for a total transaction of $29,400.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $117,600. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 33,200 shares of company stock worth $227,886. Insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in RKDA. Citadel Advisors LLC bought a new position in shares of Arcadia Biosciences during the second quarter worth $32,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Arcadia Biosciences during the second quarter worth $34,000. Morgan Stanley boosted its position in shares of Arcadia Biosciences by 162,800.0% during the second quarter. Morgan Stanley now owns 81,450 shares of the basic materials company’s stock worth $250,000 after purchasing an additional 81,400 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Arcadia Biosciences by 47.1% during the second quarter. Vanguard Group Inc. now owns 117,059 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 37,472 shares in the last quarter. Finally, CVI Holdings LLC bought a new position in shares of Arcadia Biosciences during the second quarter worth $414,000. 6.58% of the stock is currently owned by institutional investors.

About Arcadia Biosciences

Arcadia Biosciences, Inc, an agricultural food ingredient company, develops and commercializes health and nutrition ingredient traits worldwide. The company offers a suite of agricultural productivity traits, including nitrogen use efficiency, water use efficiency and drought tolerance, salinity tolerance, and herbicide tolerance traits.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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